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D1 Oils Plc (NEOS)

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Friday 10 December, 2010

D1 Oils Plc

General Meeting Results

RNS Number : 7869X
D1 Oils Plc
10 December 2010

D1 Oils plc ("D1" or the "Company")


Result of General Meeting, Completion of Disposal of Certain Subsidiaries and Resignation of Director

The Board announces that at the General Meeting of D1 Oils plc ("Company") held earlier today the ordinary resolution to approve the disposal of substantially all of its Jatropha plant science and technology activities, but excluding the animal feed programme, via the sale of the entire issued share capital of its two subsidiary companies, D1 Oils Plant Science Limited and Quinvita Limited, was duly passed by the requisite majority of shareholders.

Further to the approval by shareholders the Board announces that completion of the disposal (as described in the Company's circular to shareholders dated 24 November 2010 (the "Circular") has taken place today.  

As stated in the Circular, Henk Joos has stepped down from the Board of Directors with effect from today.

Barclay Forrest, Non-Executive chairman of D1 Oils plc said: "This is an important step in D1 Oil's restructuring to create a sustainable and exciting growth company focused on the production of Jatropha oil, and its value added co-products and also the sourcing and trading of vegetable oil commodities.  The Board wishes Quinvita every success with its scientific and other activities"

Henk Joos, Chief Executive Officer of Quinvita said: "We look forward, as QUINVITA, to being able to support a new wave of investment into Jatropha with professional advice and products, and to continuing our co-operation with D1 Oils"

For further information please contact:

D1 Oils Plc

+44 (0) 20 7936 9104

Martin Jarvis

Chief Executive Officer

Brunswick Group

+ 44 (0) 20 7404 5959

Kevin Byram

Saadia McGlinchey

WH Ireland

+ 44 (0) 20 7220 0470

Chris Fielding


+32 9 241 56 12

Vincent Volckaert




This information is provided by RNS
The company news service from the London Stock Exchange